The income-tax (I-T) department has issued showcause notices under Section 68 of the Income-Tax Act to several startups over funds routed through Singapore, seeking explanations for investments received over the past five years, people familiar with the development said. The department is questioning the source, identity, and creditworthiness of overseas investors in these transactions, they said.
Luxury carmakers are shifting into high gear with a mix of product launches, personalised experiences and lifestyle-led engagement.
The offroad legend 2025 Mahindra Thar launched at an eye-popping Rs 9.99 lakh, writes Rajesh Karkera/Rediff.com.
Delhi Police are questioning five individuals in Gujarat regarding their potential involvement in the attack on Delhi Chief Minister Rekha Gupta. The investigation is ongoing, with mobile phones seized and leads being pursued.
Mahindra makes an interesting entry into urban centres with the relaunched Mahindra Bolero, writes Rajesh Karkera/Rediff.com.
Former White House trade advisor Peter Navarro accuses India of being an 'oil money laundromat' for Russia, alleging that India's oil purchases are funding Putin's war in Ukraine. The accusations come amid existing trade tensions and tariffs imposed by the US.
ITRs with zero tax liability have increased to 55.7 million in FY25.
Money changers operating behind the RBI HQ in Mumbai said they would charge a 15% fee to convert Rs 1 crore.
Jio BlackRock Asset Management Pvt Ltd, a 50:50 joint venture between Jio Financial Services Ltd (JFSL) and US-based BlackRock, has received regulatory approval from the capital market regulator Sebi to commence operations as an investment manager for its mutual fund business. The Securities and Exchange Board of India (Sebi), vide letter dated May 26, 2025, has granted the certificate of registration to 'Jio BlackRock Mutual Fund' and approval to Jio BlackRock Asset Management Private Limited to act as the Asset Management Company for Jio BlackRock Mutual Fund, JFSL said in a regulatory filing.
Prime Minister Manmohan Singh has urged the G20 nations to send a strong message to control the 'serious problems' of tax evasion and illicit flows that have grave bearing on the developing nations' future.
The CBI and ED are keeping a close eye on several bank accounts.
For starters, as Subramanian Swamy suggested, how about putting pressure on Parliament to pass a resolution concerning all PEPs to retrieve our wealth through the RIAA?
Top Indian grapplers Vinesh Phogat, Bajrang Punia, Sakshi Malik, Satyawart Kaidyan and Jitender Kinha all tied black bands on their forehead.
R Praggnanandhaa scored a fluent victory over Frenchman Alireza Firouzja to claim the joint lead after the seventh round of the Sinquefield Cup.
Several fast-moving consumer goods (FMCG) companies have said that they would pass on the full benefit of goods and services tax (GST) rate cuts to consumers starting September 22. Dairy major Mother Dairy, on Tuesday, announced rate cuts in products spanning its portfolio-- from milkshakes to paneer and jams to frozen products under its Safal brand.
'For the longest time, he was not an activist.' 'He was just trying to build his own self-identity, self-respect and ambition.'
Lal Chowk in the heart of Srinagar was Kashmir's leading venue for protests where fortified defences had been set up by security forces. Today a group of youngsters dances at the Chowk and makes reels.
A sessions court on Wednesday granted the Enforcement Directorate permission to question top tax evader Hasan Ali, who is presently lodged in Mumbai's Arthur Road jail. According to reports, the interrogation would be video-recorded as per the orders of the Supreme Court.
The total money of Indians fell by 45 per cent during 2016 to CHF 675.75 million, marking the biggest ever yearly decline in such funds.
The income-tax department continued its searches in different places linked to an Odisha-based distillery group on charges of tax evasion for the sixth consecutive day on Monday after recovering unaccounted cash to the tune of Rs 353 crore, the 'highest-ever' haul in a single action by any probe agency in the country, officials said.
From going all glitz and glam to dishing out desi girl goals, Namrata Thakker looks at all the fashion that we loved this month.
Leading FMCG companies have announced a price cut on their products, including soaps, shampoo, baby diapers, toothpaste, razors, and after-shave lotions, effective from September 22 to extend the GST rate cut benefits to consumers. Firms such as Procter & Gamble, Emami and HUL have come up with new price lists which have been communicated to their respective distributors and consumers through their respective websites.
The iPhone 17 lineup has been launched in three models -- iPhone 17, iPhone 17 Pro and iPhone 17 Pro Max, unlike previous series that have a "Plus" model as well.
The biggest-ever seizure of cash in new currency grew to over Rs 5 crore on Friday even as the Income Tax department said it detected unaccounted income worth Rs 152 crore after it conducted searches in a dozen premises in Bengaluru and other locations.
In the last 11 years, India and the world witnessed what he stood for, what he promised and did not deliver, and what he actually stood for and practised without fearing how history would judge him. Modi's tenure has been punctuated with headline-grabbing decisions, symbolic gestures, and stage-managed moments that continue to define his leadership and India's politics, points out Ramesh Menon.
Government unlikely to bring in an ordinance to address the developments arising out of the Supreme Court order.
Nitin Gadkari said AI will be used to detect landslides, waterlogging and accident-prone spots on highways, while highlighting logistics cost cuts and road safety initiatives
The new model is 5.6mm thick. CEO Tim Cook said it promises "pro performance in a thin and light design."
Rahul Gandhi's retort to PM Modi came after the latter attacked him at an election rally saying why he has "stopped" naming Adani and Ambani in his attacks and whether he has received money from them in return.
Clearly, rich Indians have little confidence in India. Perhaps we are also chronically dishonest.
The 'black paper', titled '10 saal anyay kaal' also alleged that issues such as rising prices, unemployment, subversion of institutions and farmers' 'distress' had plagued the country.
'They are clueless about the man on the currency notes.' 'They have been fed with WhatsApp forwards, so either Gandhi is vilified or deified. There's nothing in between.'
Section 54 provides a tax-free method to convert unaccounted money into accounted money, says Harsh Roongta.
The Renault Triber's USP remains its exceptional interior space and seven-seater capability, a combination rarely found in the 7 lakh to 10 lakh on-road price bracket in India.
Years before the Supreme Court struck down as 'unconstitutional' an opaque political funding tool that allowed individuals and companies to donate money to political parties anonymously and without any limits, the then finance minister Arun Jaitley -- the prime mover of electoral bonds -- had termed them legitimate and transparent.
One is really left wondering how India can ever claim to fare better than the United States and the United Kingdom in this space.
Japan is expected to increase its investment target in India from the earlier 5 trillion yen ($34 billion) to almost 10 trillion yen.
Despite similar tax treatment, debt MFs enjoy certain advantages over FDs.
The jury is still out on the decision to demonetise high value currency notes on November 8, 2016, with the government claiming it has helped greater formalisation of the economy while critics saying it has failed to curb black money and reduce dependence on cash. On November 8, six years ago, Prime Minister Narendra Modi had announced the demonetisation of old Rs 1,000 and Rs 500 banknotes and one of the key objectives of the unprecedented decision was to promote digital payments and curb black money, besides eliminating terror funding. As per a Reserve Bank data, currency with the public has jumped to a new high of Rs 30.88 lakh crore an October 21, indicating that cash usage is still substantial even six years after the demonetisation move.
The FM has levied 0.1 per cent tax will be levied on withdrawal of cash of Rs 10,000 and above from banks on a single day. So if you withdraw Rs 10,000 from the bank on a single day, you will need to pay a tax of Rs 10 on it.
